Oregon Public Employees Retirement System, Chapter 459
Rule Caption: Housekeeping edits to delete obsolete language and clarify the current administration of retirement benefit payments.
Adm. Order No.: PERS 6-2013
Filed with Sec. of State: 7-26-2013
Certified to be Effective: 7-26-13
Notice Publication Date: 5-1-2013
Rules Amended: 459-013-0060
Subject: Edits to this administrative rule are required to delete references to gender and obsolete language such as “insurable interest,” which was removed from statute in 1971; to reference our new administrative rule regarding any accrued benefits due a retired member after death; and to clarify the date of subsequent lump sum installment payments after the initial installment payment was made.
Rules Coordinator: Daniel Rivas—(503) 603-7713
Payment of Retirement Benefits
(1) Retirement benefits shall be payable each month as of the first day of the month following the effective date of retirement. At the time of death, accrued benefits shall be payable as provided under OAR 459-014-0050(4).
(2) If a retiree elects to receive more than one installment payment as provided under ORS 238.305(4), the subsequent installment payments will be paid on the anniversary of the first day of the month that the initial installment payment was made.
Stat. Auth.: ORS 238.650
Stats. Implemented: ORS 238.300 & 238.305
Hist.: PER 8, f. 12-15-55; PERS 1-1996, f. & cert. ef. 3-26-96; Renumbered from 459-010-0070; PERS 21-2005, f. & cert. ef. 11-1-05; PERS 6-2013, f. & cert. ef. 7-26-13
Oregon State Archives • 800 Summer St. NE • Salem, OR 97310